Mortgage Banking

Founded in 1939, Mortgage Banking Magazine is a professional trade magazine published by Mortgage Bankers Association of America. Its headquarters are located in Washington, D.C. The magazine is published monthly and serves the banking, real estate and financial markets. Janet Hewitt is the editor-in-chief.

Articles from Vol. 74, No. 6, March

2014 Tech All-Stars
Technology has become essential in the mortgage finance business today. It's an absolute lifeline for complying with the crushing burden of new rules affecting every inch of the business--from originations to servicing to the secondary market. But...
A Five-Star Outlook
The hotel market is looking strong in 2014, with demand picking up and supply under control. Analysts see nothing to give them reservations about the outlook. The U.S. lodging market is in the midst of a steady recovery. Demand is increasing in...
Alex Levin
DIRECTOR OF FINANCIAL ENGINEERING, ANDREW DAVIDSON & CO. Alex Levin has been instrumental in developing state-of-the-art models to help value mortgages, derivatives and other financial instruments. In a joint effort with Andrew Davidson, Levin...
Authors
John Bell John is a Chicago Bears and Chicago White Sox fan He also pulls for Northwestern University's football and basketball teams, as well as the University of Illinois' teams. A product of Northwestern's Medill School of Journalism, he has...
Big Data in the Field Service Industry
When you come right down to it, property preservation companies are in the risk-mitigation business. Our primary job is to help reduce the financial and reputational risks that vacant, defaulted and foreclosed properties pose to our mortgage servicing...
CFPB Proposing Expanded HMDA Reporting
CFPB proposing expanded HMDA reporting The Consumer Financial Protection Bureau (CFPB) took over enforcement of the Home Mortgage Disclosure Act (HMDA) with the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The law also...
CMBS Metrics Mixed in Fourth Quarter
According to Fitch Ratings, New York, legacy U.S. commercial mortgage-backed securities (CMBS) market metrics continued improving in fourth-quarter 2013, although several key indicators for new issuance trended negatively. The Fitch quarterly index...
Construction Lending Rebounds Strongly
Construction lending--a hit-or miss proposition over the past several years--has rebounded to levels not seen in decades, said panelists at the Mortgage Bankers Association's (MBA's) Commercial Real Estate Finance/Multifamily Housing Convention &...
Continued Growth in Small-Balance Lending
Small-balance lenders anticipate that 2014 commercial mortgage originations for loans under $5 million will challenge last year's robust total, according to research firm Boxwood Means, Stamford, Connecticut. Property sales volume and prices will...
Dallas' NewLeaf Is Prepared for Purchase Market
INDUSTRY VETERAN BILL DALLAS DOESN'T NEED TO COMPETE with other lenders to take advantage of a unique strategy for mortgage origination. His approach with NewLeaf Lending is to help originators, employers and financial advisers by offering them a Web-based...
Dan Sogorka
PRESIDENT, REALEC* TECHNOLOGIES DIVISION OF BLACK KNIGHT FINANCIAL SERVICES Dan Sogorka attended Villanova University on a full academic scholarship and earned a degree in civil and environmental engineering. So the pipes and chutes of the Rube...
Dominic Iannitti
FOUNDER AND CHIEF EXECUTIVE OFFICER, DOCMAGIC In 1988, Dominic Iannitti started DocMagic out of frustration with the manual process then in use by lenders to prepare mortgage closing documents. He tells it this way: "The deciding factor was that...
Eric Lyon
VICE PRESIDENT OF SINGLE-FAMILY SOURCING AND SECURITIZATION, FREDDIE MAC When your boss singles you out from the 1,200 people who report to him as an unsung hero, it means something. It means even more when your boss is Freddie Mac's chief information...
Gregory E. Teal
PRESIDENT AND CHIEF EXECUTIVE OFFICER, ERNST PUBLISHING CO. LLC Ernst Publishing Co. provides closing cost information to the mortgage lending industry. This might not sound exciting, but it got a lot more exciting when the government required lenders...
Home-Price Spotlight
States Ranked By Percent Decline From Peak Home Prices (December 2013 Data-Includes District of Columbia) Peak % 12-Month Month Decline HPI Since Change ...
Home-Price Spotlight
States Ranked Worst to Best By Foreclosure Rate (November 2013 Data--Includes District of Columbia) Foreclosure Foreclosure REO REO 90+ Day Rate Rate 12 Rate Rate 12 Delinquency ...
Housing Activity: Residential Structures (Thousands of Units, SAAR)
BY TYPE OF UNIT HOUSING STARTS BUILDING PERMITS Total Single-Family Multi-Family Total Single-Family JAN 898 625 273 915 614 13 FEB 969 662 ...
How the Other Half Lies
"Fraud is the daughter of greed." --Jonathan Gash, The Great California Game Sometimes it seems like not a day goes by without new allegations of cheating. Recent headlines highlighted allegations that 20 percent of the Air Force personnel in charge...
Industry
JAMES BOYLE has been named president and chief executive officer of Richmond, Virginia-based Genworth Financial Inc.'s U.S. Life Insurance Division (USLI) and executive vice president of the company. KIRK WIGINTON has been named chief executive officer...
Inside the Mind of a Top Producer-Keith Spain
KEITH SPAIN, SENIOR VICE PRESIDENT AT LOANSOUTH MORTGAGE, Atlanta, is fondly known to his colleagues as "Big Daddy." This nickname could stem from his annual production of around $78 million last year, his 15 years in the industry or, from what I gathered...
JLL: Possible Post-Recession Lending Market High in 2014
Commercial property lending continues to gain momentum and could reach a new post-recession high this year, reported Jones Lang LaSalle (JLL), Chicago. Tom Fish. Jones Lang LaSalle executive managing director and member of the Mortgage Bankers Association's...
Key Economic Indicators and Interest Rates
CONSUMER PRICES, MBA YEAR-OVER-YEAR MORTGAGE CHANGE (%) INTEREST ...
Leonard Ryan
PRESIDENT, QUESTSOFT CORPORATION Ryan got his start in the industry as a licensed originator in 1983. That gave him an up-close look at the shortcomings of industry technology. He recalls the technology tools available to originators in the early...
Life Company, Small-Balance Lending Both See Increases
Commercial real estate (CRE) loans--both large and small--remain a strong investment compared with corporate bonds and other alternative investments. Life companies saw near-record commercial real estate loan production last year and more firms...
Listen Up
IT'S MID-FEBRUARY AND WE ARE DROPPING BY Dave Stevens' desk to hear what's on his mind. As usual, we need to do a little probing--because you just never know. This guy's a thinker and he can be all over the place. [paragraph] So, what's top of mind...
Marketrac[R]
Markets with Highest Share of Distressed Sales (November 2013 Data, Ranked by Distressed Sales %) Core-Based Statistical Area (CBSA) Short REO Sales Salts (Anrage ...
Mark Kleingers
SENIOR SOLUTIONS ARCHITECT, ELYNX Mark Kleingers is an expert in data models and data exchange. Translation: He's a standards junkie. For the past six years, he has been an active member and contributor to MISMO*. For the past three years, he has...
MISMO Contributor Recognition Awards
The Mortgage Industry Standards Maintenance Organization (MISMO'), has recognized a distinguished slate of mortgage industry professionals for their contributions to MISMO and the advancement of standards across the industry. MISMO was created in...
Month in Review
As the latest winter storm wreaks havoc in the Northeast, mortgage rates start to look coolly optimistic. Mortgage rates have improved across the board since the beginning of January. In early February 2014, the average annual percentage rate (APR)...
Mortgage Shopping's Digital Divide
The continued evolution of online technology tools is likely to allow consumers to more easily find the right mortgage to suit their needs. Improved technology could help mortgage borrowers find the right mix of rate, fees, risk, features and service...
Multifamily 'Healthy, Vibrant,' but Risks Persist
Despite recovering volumes, falling vacancies and increased rent growth, the multifamily sector continues to face risks, analysts said. "The markets--both debt and property--are very healthy, vibrant and in balance," said Mark Beisler, managing...
Photo Album
On Sept. 9, 1965, President Lyndon Johnson signed legislation establishing the U.S. Department of Housing and Urban Development (HUD). Design work, on HUD's Washington headquarters building at 451 7th St. SW began immediately, with igarcel Breuer as...
Regulator by Day, TV Personality by Night
RICHARD CORDRAY AS A MEMBER OF THE UNTOUCHABLES? That's the way comedian JON STEWART sees him. H "You're like Eliot Ness," Stewart said on his Comedy Central show, The Daily Show, in a mid-January "interview" with Cordray, director of the Consumer...
Reo-to-Rental Securitizations: Behind the Scenes of a New Asset Class
THE REAL ESTATE-OWNED (REO)-TO-RENTAL SPACE has now proven to be more than a trend or another trade, and become more of an entirely new asset class. Following the $479 million Invitation Homes issuance, the REO-to-rental securitization market, while...
Technology's Reign
This is an era where everything we do is supported by technology. The invisible hand of technology is everywhere--helping us transact, research, predict and comply. The mortgage business is the very epitome of a sector royally dependent on systems...
The CMBS Rebound
CMBS issuance continues to grow as investors remain eager for a nice yield-premium alternative. Yet a few regulatory hurdles cloud the outlook--specifically the risk-retention rules. The U.S. commercial mortgage-backed securities (CMBS) market looks...
The Fraud File
Mortgage Fraud Risk Index for December 2013-TOP 5 MSAs Metropolitan Statistical Mortgage % % Area (MSA) Fraud Change Change Risk Since Since Index,...
The Ideal World of Valuations
THIS IS A CRITICAL TIME IN THE MORTGAGE INDUSTRY. As we shift from a refinance to a purchase market and look at developing stronger relationships with real estate professionals, it is crucial that we do not repeat the valuation mistakes that most recently--in...
The Key to the Mortgage Industry's Future
ONE OF THE BIGGEST GAPS in our trillion-dollar industry is the availability of a single data repository. Significant progress has been made to strengthen the mortgage industry's infrastructure, ensure the governance and structure required to improve...
Thomas J. Healy, CMB
PRESIDENT AND CHIEF EXECUTIVE OFFICER, LEVEL1ANALYTICS Level1Analytics provides an economic and transparent way to value and stress-test mortgage loan and mortgage servicing portfolios without the need for specialized staff, intensive assumption...
Too Much Information
It's not your imagination. More bits and bytes of information are coming our way at an ever-increasing, mind-numbing speed. Consider that on an average day, there are 24 petabytes (there are 1 million gigabytes in one petabyte; companies like Google[TM]...
TPO Loans: Born Again
During the high refinance volume years of 2002 through 2006, third-party origination (TPO) channels--wholesale and correspondent--took off as strong profit centers for mortgage lenders. If a lender didn't have a presence in TPO, it was likely planning...
Ty Jenkins
FOUNDER AND CHIEF EXECUTIVE OFFICER, DOCUTECH CORPORATION Ty Jenkins' first encounter with mortgage industry technology came in 1990. While going to college, he landed a part-time summer job with a subcontractor doing credit-quality and documentation...
Under the Third-Party Magnifying Glass: Here's a Compliance Checklist for Lenders Doing Due Diligence on Their Third-Party Appraisal Vendors
In the midst of a storm of new regulations, lenders and their service providers are working toward compliance. As a technology team, Mercury Network is developing software solutions for your compliance challenges, but we're also keenly aware of the...
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